If you use Ebay and have a Paypal account you could get a great deal right now! You also need a Microsoft Live Cashback account. If you don’t have this simply go to Live.com. Look near the links at the top right of the page and you’ll see one that says “Cashback”. Click on that, create a free account (takes 2 minutes) and you’re ready to roll. I just completed two purchases on Ebay, one for a Staples gift card for $225 which in the end will cost me $150 and another one for a JCPenny gift card for $300 which in the end will cost me $210.

Here is how you can score this deal. Go to Live.com and search for an item (I’ve been using the term ‘cheap wii’). The results will pop up and they’ll look like this:

Ok, so you see where it says “You may get 30% off with Paypal”… click on that Ebay link. You’ll be directed to Ebay. Notice at the top of Ebay now there is a small little banner that mentions the 30% off. Now search for any item you want that is offered with the “Buy It Now” feature. (buying vehicles or real estate does not qualify) So as an example you can search the gift cards. You’ll notice that a lot of clowns are selling a $500 gift card for $550 because if you buy it and get the 30% cashback you’ll get $165 cash back so the $500 gift card will cost you $550-$165 = $385 in the end (I should mention that it takes 60 days for you to get your cash back… but there is no risk because the cash back is given to you by Microsoft so I don’t think they’re going to wrong you). So if you wanted that gift card you have to purchase it via Buy It Now and you have to pay for it via Paypal in order to qualify for the Cash Back.

Once you complete the purchase and pay for it just wait. In under 24 hours you’ll have a message in your Ebay account saying that you’ve qualified for cash back and to click the link. The link will bring you to Live. Just sign into your Live account and your Cash Back will then be credited within 24 hours. It takes 60 days to clear and then you can transfer the cash back into your Paypal account.

I can verify first hand that this process works as I participated in it a few months ago when they first offered it and I received my cash back. Normally the cash back off for Ebay is 8% so this 30% is a steal. If you’ve been waiting to buy a big item like a PS3 or Wii this is a good time to pick it up.

Please note that you can only do 1 transaction per session (meaning after you complete the purchase close your internet explorer, reopen one and do the search on Live.com again if you wanted to buy a second item). Also, the max cash back you can get per transaction is $200 (meaning if you buy something that costs $667 you’ll get $200 cash back. if you buy anything more expensive then $667 you’ll still only get $200 cash back). And finally you can only receive cash back on 6 transactions per Ebay account. So don’t do 20 transactions and get disappointed…

If you need an idea or two you may want to consider buying stamps as something practical. Some people offer large quantities of the Forever stamps and this is a smart way to save money in the future. Gift cards (if you can find a reasonably priced one) is always a good idea. And the most popular use of this promotion is electronics.